TransCanada PipeLines Agrees
To Sell U.S. Operations to Coastal

Dow Jones Newswires

Updated Nov. 24, 1999 12:01 a.m. ET

CALGARY, Alberta -- TransCanada PipeLines Ltd. said it has agreed to sell its U.S. midstream facilities and its U.S. natural gas liquids marketing and trading business to Coastal Field Services Co., a subsidiary of Coastal Corp. The terms of the deal weren't disclosed.

TransCanada, Canada's biggest energy-services concern, said the sale is subject to the approval of Coastal's board and is expected to close by the end of the fourth...